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darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with soc
darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to...
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darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with soci
darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to...
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lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. >>> we waiting for the president of the united states to walk into the east room of the white house. we'll show you a picture now. he's going to nominate jack lew as white house chief of st
lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my...
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>>> there's jack lew's signature. we could have a pretty ugly signature on our dollar bill. >> i mean, is this even a signature? or did he start drawing charlie brown and give up after the hair? good grief. and it got no better when lew explained his fiscal philosophy saying, quote, i describe budgets as tapestry. nation.s woven together, it >> i tried. still doesn't even look good. good morning and welcome to "way too early," the show that's proudly ranked just ahead of doctors at our penmanship class. we have a lot to talk about, including a white house meeting on gun control between vice president biden and leaders of the national rifle association. i'll tell you why the nra leaders walked away disappointed. plus, the pentagon tightens its belts ahead of possible cuts. >>> first, our top story at 5:30 a.m. here at 30 rock in new york city. amid a national debate about guns and violence, a california teacher and a campus supervisor are being credited for heroic actions yesterday during yet another school shooting. i
>>> there's jack lew's signature. we could have a pretty ugly signature on our dollar bill. >> i mean, is this even a signature? or did he start drawing charlie brown and give up after the hair? good grief. and it got no better when lew explained his fiscal philosophy saying, quote, i describe budgets as tapestry. nation.s woven together, it >> i tried. still doesn't even look good. good morning and welcome to "way too early," the show that's proudly ranked just...
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i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited fiscal resources. now like jack, i've spent my professional life in this world of public policy and public service, and as all of you know, our families carry a large share of the burdens we assume in public life. and i feel incredibly fortunate that my wife, carol, and my family, have been willing to allow me to do this. and i thank them for their support and their patience and i understand their occasional impatience. i want to express my admiration and my appreciation for the women and men of the treasury department. those who came t
i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited...
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the official jack lew signature generator. if you type your name, you can generate your own jack lew. wow. >> what's mine look like? that's a fascinating "b" at the start. >> i like that. mine is going to be much more elegant. >> that's not bad, actually. at least everything is on the same line. >> that's a good one. >> as treasury of secretary, jack lew's signature will be on every official u.s. dollar. so why don't we see what it will look like? i take a little crack at it here. >> let's see what yours would look like. your scribbles are not good. >> king of the world. >> can anyone out there read that? what is that? >> this thing doesn't work. >> you don't even fit in the lines. >> this thing is garbage. let's move on. oh, he's throwing paper balls over here. >> spring training is only about a month away. he gets a little excited. >> can't take that guy anywhere. all right. now, it's just another day in new york city. this is my final story. a manhattan subway rider uploaded a video to youtube chronicling here subway ride.
the official jack lew signature generator. if you type your name, you can generate your own jack lew. wow. >> what's mine look like? that's a fascinating "b" at the start. >> i like that. mine is going to be much more elegant. >> that's not bad, actually. at least everything is on the same line. >> that's a good one. >> as treasury of secretary, jack lew's signature will be on every official u.s. dollar. so why don't we see what it will look like? i take...
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but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. >>> aig has decide not to joiven a lawsuit by former ceo hank greenberg against the u.s. government. greenberg claims the company's 2008 bailout was unfair to shareholders. aig says it won't let greenberg's firm pursue its claims on the company's behalf. the ceo told cnbc joining the suit isn't in aig's best interest. and while the terms of the lawsuit may hav
but does jack lew have what it takes? we'll talk about it, after this. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save...
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what about now with jack lew? brian jacobson chief portfolio strategist at wells fargo joining us now from milwaukee wisconsin. at first look, what do you think? >> well, i think this is an example where we will probably see history not necessarily repeat but it will most likely rhyme with what happened when geithner made his first speech. i'm not all that confident that lew is going to be a good replacement for geithner. i think he's not a very unifying individual. he's more of a polarizing figure. and it makes it more likely that the next two years until the midterm elections that we could see more battles and skirmishes in washington, d.c. as opposed to fewer. dagen: what would you like to see as a stock investor? >> a treasury secretary who is more focused on building compromise. but think the lesson we learned in the debate last year when there was discussion about debt ceiling is that lew is one of these types of individuals who very politically savvy but that doesn't necessarily equate to being a statesman
what about now with jack lew? brian jacobson chief portfolio strategist at wells fargo joining us now from milwaukee wisconsin. at first look, what do you think? >> well, i think this is an example where we will probably see history not necessarily repeat but it will most likely rhyme with what happened when geithner made his first speech. i'm not all that confident that lew is going to be a good replacement for geithner. i think he's not a very unifying individual. he's more of a...
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. >> up next, jack lew treasury secretary. i don't think they're going to mint the twin dollar coin. if that do they will put a squiggly on top and squall -- call it a day. ÷÷ >> shepard: 14 minutes before the hour now on "studio b." the president nominating his current chief of staff, jack lew, to replace tim geithner. before jack lew joined the white house administration he served as the chief operating officer of citigroup's global wealth management and served as president bill clinton's budget director and crafted a bipartisan agreement that sparked budget surpluses. the president said the loss of jack lew as his chief of staff will be the country's gain. >> i trust his friendship, very few people with greater integrity than the man to my left. so i don't want to see him go because it's working out well for me to have him here in the white house. >> shepard: but he already had some strong opposition. especially from the top republican lawmaker, jack session, who said, jack lew must never be secretary of the treasury. w
. >> up next, jack lew treasury secretary. i don't think they're going to mint the twin dollar coin. if that do they will put a squiggly on top and squall -- call it a day. ÷÷ >> shepard: 14 minutes before the hour now on "studio b." the president nominating his current chief of staff, jack lew, to replace tim geithner. before jack lew joined the white house administration he served as the chief operating officer of citigroup's global wealth management and served as...
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jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars on their oscar campaigns. a top industry expert is here to crunch the numbers. even when they say it's not, it is always about money. melissa: we start today with another school shooting. it happened at taft union high school in california. one student was shot. the sheriff says they have one suspect in custody. makes the meetings on gun control today, on capitol hill even more urgent. the fact that vice president joe biden met with the nra and other gun rights activists on possible new federal regulation. at the same time attorney general eric holder was talking
jack lew gets the nod for new treasury secretary. senator jeff sessions is outraged and vowing to block lew's senate confirmation. he will join us to explain why. >>> why this flu epidemic is making our economy sick. experts say we're looking at a possible $10 billion hit on the economy from the flu. that is what we need. details are coming up. >>> how much is an oscar really worth to a movie? the 2013 academy award nominees are out. studios dropped 10 of millions of dollars...
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tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut the 1997 balanced budget deal. so the white house sees him as someone with a lot of experience, ready to take on some of the big challenges over the treasury department as we are facing the so-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down. all we have from sources is that it will happen sometime this week mptd not certain if that is tomorrow or friday or over the weekend but it will happen
tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut...
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here at home, there could be a quirky consequence to jack lew as new treasury secretary. we'll show you what that is later in the grapevine. up next no, tea party in boston. as flu hammers the bay state. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47 combined mpg c-max hybrid. >> bret: the flu outbreak affecting much of the united states is jamming emergency rooms and keeping people from work and school. the map is amazing. massachusetts is feeling it now. correspondent molly line is in boston tonight. >> 700 cases of the flu compared to 70 this time last season, most are trying to deal with massive influx of patients. >> i am declaring a public health emergency in city of boston. >> reporter: the mayor is joining with health officials to sound the alarm. >> we have a terrible problem on our hand with a lot of people sick with flu
here at home, there could be a quirky consequence to jack lew as new treasury secretary. we'll show you what that is later in the grapevine. up next no, tea party in boston. as flu hammers the bay state. meet the 5-passenger ford c-max hybrid. when you're carrying a lot of weight, c-max has a nice little trait, you see, c-max helps you load your freight, with its foot-activated lift gate. but that's not all you'll see, cause c-max also beats prius v, with better mpg. say hi to the all-new 47...
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lew has been very suk s sesful and if anybody can, jack can. if you look at the paul ryan budget, what you see is literally a transfer of trillions of dollars over the ten-year budget window from programs that help low income people to tax cuts for rich people. this is the robin hood in reverse on steroids. jack lew recognizes that one of the critical roles for government is protecting economically vulnerable people. now, that doesn't mean he won't put some spending cuts on the table and they may even involve entitlements but you can bet the vulnerable retirees and the people who depend on the safety net at times of market failure will have a very strong ally in jack lew. >> to that point, many people have suggested in the past that there's been a revolving door that goes from the treasury to wall street and back again. is this man part of that coterie or is he very much and firmly in the public service camp? >> it's much more in the public service camp. i read this morning a critique of the choice of jack for treasury secretary by some financi
lew has been very suk s sesful and if anybody can, jack can. if you look at the paul ryan budget, what you see is literally a transfer of trillions of dollars over the ten-year budget window from programs that help low income people to tax cuts for rich people. this is the robin hood in reverse on steroids. jack lew recognizes that one of the critical roles for government is protecting economically vulnerable people. now, that doesn't mean he won't put some spending cuts on the table and they...
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jack lew, the current white house chief of staff. the nomination not without controversy, as most are not these days. mr. lew's reputation truly precedes him in this case. some in the senate as seeing him overly rigid -- the senate and the house on capitol hill see him overly rigid. wyoming senator john bros. sew is chairman of the foreign policy committee. nice to have you back on the program. >> thank you, jenna. jenna: i was looking at a report from bob woodward, speaker boehner apparently told woodward that he asked the president to keep jack lew at the white house, to not send him to capitol hill because he was tired of hearing the word "no" so many times. what's your reaction to this nomination if. >> well, jack lew is very partisan, and he's very political. but the fundamental problem, jenna, are are the president's policies and the president's addiction to spending. to me, that's the bigger issue. wewe are $16 trillion in debt, t is the greatest threat to our national security, and yet jack lew and the president think that sp
jack lew, the current white house chief of staff. the nomination not without controversy, as most are not these days. mr. lew's reputation truly precedes him in this case. some in the senate as seeing him overly rigid -- the senate and the house on capitol hill see him overly rigid. wyoming senator john bros. sew is chairman of the foreign policy committee. nice to have you back on the program. >> thank you, jenna. jenna: i was looking at a report from bob woodward, speaker boehner...
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jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a fo
jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against...
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so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than eddie money running a travel agency. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> things are looking up for the u.s. economy. let's hope our politicians don't bring it down. from the cnn money newsroom, in new york, i'm ali velshi. this is your money. walmart reverses itself on gun violence meeting. do you know who jack lew is? you will soon. more nightmares on the dreamliner. and america is on track to prosper if we just let it. but, first, that walmart story. the change of heart. vice president jo
so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how...
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confirmed as quickly as possible, saying that jack lew has his complete trust. as i mentioned, this may be a battle. it may be a bit of a battle because some top folks are raising objections to jack lew who made his fair share of enemies in his time of chief of staff and we'll see how that proceeds. dana perino is still here with us. now we have it, it's official, another white male appointed to the cabinet and we were talking about this during the break. is it -- are we in an uncomfortable place we look the at the top cabinet people saying, women or not? minorities or not? and judging them by that? is that, is that in and of itself sort of affront to women. when we deserve to be there in mass numbers, we'll be there in mass numbers. or a situation in the country where women are still moving up the the halls of power? we haven't been, you know, equal pay or close to it, and in circles of power and we look at law schools and med schools for that long. we're still trekking upward. >> yes, so a lot of, i think back to my great-grandmother, who wasn't allowed to vot
confirmed as quickly as possible, saying that jack lew has his complete trust. as i mentioned, this may be a battle. it may be a bit of a battle because some top folks are raising objections to jack lew who made his fair share of enemies in his time of chief of staff and we'll see how that proceeds. dana perino is still here with us. now we have it, it's official, another white male appointed to the cabinet and we were talking about this during the break. is it -- are we in an uncomfortable...
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that is not to say jack lew doesn't fit in the treasury secretary box. i just thought now might be a good time for the president to pull a clin con and think outside the box -- pull a lincoln and think outside the box. not with another predictablebe yes man who will continue to do the president's bidding but an outside businessman who might threate challenge the president's thinking. lincoln dared to break from the comfort zone picking a cabinet that might make lesser leaders feel well, not so comfortable. but it didn't make lincoln any less a leader from the folks who challenge him, it made hit more of one. it seemed sad that this day a movie that heralded that president is found so significant that our latest president adds to a cabinet that increasingly seems so insignificant. but hope springs eternal. you know, the average can surprise you. well, you know, for feeling the beat, to giving d.c. the finger, allen simpson like you have never seen him before. 8:00 p.m. on fox business network. it's a new year. maybe this is one resolution if you have yet
that is not to say jack lew doesn't fit in the treasury secretary box. i just thought now might be a good time for the president to pull a clin con and think outside the box -- pull a lincoln and think outside the box. not with another predictablebe yes man who will continue to do the president's bidding but an outside businessman who might threate challenge the president's thinking. lincoln dared to break from the comfort zone picking a cabinet that might make lesser leaders feel well, not so...
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that is not to say jack lew doesn't fit in the treasury secretary box. i just thought now might be a good time for the president to pull a clin con and think outside the box -- pull a lincoln and think outside the box. not with another predictablebe yes man who will continue to do the president's bidding but an outside businessman who might threate challenge the president's thinking. lincoln dared to break from the comfort zone picking a cabinet that might make lesser leaders feel well, not so comfortable. but it didn't make lincoln any less a leader from the folks who challenge him, it made hit more of one. it seemed sad that this day a movie that heralded that president is found so significant that our latest president adds to a cabinet that increasingly seems so insignificant. but hope
that is not to say jack lew doesn't fit in the treasury secretary box. i just thought now might be a good time for the president to pull a clin con and think outside the box -- pull a lincoln and think outside the box. not with another predictablebe yes man who will continue to do the president's bidding but an outside businessman who might threate challenge the president's thinking. lincoln dared to break from the comfort zone picking a cabinet that might make lesser leaders feel well, not so...
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now my colleague, gloria borger, saying that president obama will be nominating jack lew as treasury secretary and that that announcement is expected sometime this week. this had been widely expected, jack lew, who has worked in a couple of administrations as the budget chief. he also worked on wall street. we've done some reporting on concerns about his experience not only from those on wall street but also some progressive groups. nonetheless, the president expected to nominate someone who he has talked about as a trusted confidante, someone who has worked very hard in trying to right the ailing economy. according to this source, the president expected to nominate him to be the next treasury secretary, and that announcement expected sometime this week. >> all right. well, thank you for that, dan. and nice quick work, i might add as well. and by the way, for our audience who might not know a lot about jack lew, the white house chief of staff, there is actually a very extensive background on this man. he has been the leading contender. without further ado, have a listen to all of the
now my colleague, gloria borger, saying that president obama will be nominating jack lew as treasury secretary and that that announcement is expected sometime this week. this had been widely expected, jack lew, who has worked in a couple of administrations as the budget chief. he also worked on wall street. we've done some reporting on concerns about his experience not only from those on wall street but also some progressive groups. nonetheless, the president expected to nominate someone who he...
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jack lew is going to the treasury. for those of you who can make out his signature here, that's jack lew's signature. it looks sort of like a drunk caterpillar there. that will be on your flat money. it looks just like this. jack lew's signature. like a shock test if you look at it the right way. that's one nomination. other nominations that we've had here recently. we wanted to talk to juana summers about. let's start with john brennan. john brennan to the c.i.a. how are republicans going to take this? because we've already seen some opposition to him. >> as expected, a lot aren't taking it very well. they say he still has questions to answer about harsh interrogation tactics from the bush era. he hasn't answered that. lindsey graham the other night speaking on fox news that suggested he wants to put a hold on brennan's nomination. use that as leverage so he can get the answers that he and his republican colleagues, kelly ayotte, john mccain have been pushing for from clinton from the obama administration and the atta
jack lew is going to the treasury. for those of you who can make out his signature here, that's jack lew's signature. it looks sort of like a drunk caterpillar there. that will be on your flat money. it looks just like this. jack lew's signature. like a shock test if you look at it the right way. that's one nomination. other nominations that we've had here recently. we wanted to talk to juana summers about. let's start with john brennan. john brennan to the c.i.a. how are republicans going to...
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jack lew came to d.c. in 1973, 40 years ago and has experience all over town at the office of management and budget, at the state department, in the private sector at citibank and new york university. a white house official passed this along they said throughout his career jack lew has proven a successful and effective advocate for middle class families who can build bipartisan consensus to implement proved policies. jeff sessions from alabama says he does not think jack lew's nomination will be successful. he is steamed that lew appeared before congress two years ago and testified that president obama's budget would not add to the national debt. sessions says and this is a quote. at this time of unprecedented slow growth, high unemployment and huge deficits we need a secretary of treasury that the american people, the congress, and the world will know is up to the task of getting america on the path to prosperity, not the path to decline. jack lew is not that man. if lew's nomination is successful his sig
jack lew came to d.c. in 1973, 40 years ago and has experience all over town at the office of management and budget, at the state department, in the private sector at citibank and new york university. a white house official passed this along they said throughout his career jack lew has proven a successful and effective advocate for middle class families who can build bipartisan consensus to implement proved policies. jeff sessions from alabama says he does not think jack lew's nomination will...
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lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot to be done and i think appointing a somewhat more political person to the choices second chair will also indicate that obama means business is terrific doing this and in terms of ways to tackle the debt then there's been talk of a one trillion dollar platinum coin to be minted as a way to resolve the over sixteen trillion dollar debt do you see this is feasible is it crazy is it is a good idea how do you see this. theoretically is a very good idea isn't it if you have too much state you can just mend some coins and you're out of your trouble of course i think clearly this is just th
lew is concerned what will be top of the agenda then what needs to be done going forward. he majorly moved will need to move towards get in the talks on the debt ceiling in place it would also be for him to create the platform from which. obama is reflecting his view that he wants to do something about his legacy u.s. is still facing huge reforms needed in particularly in the health care costs where health costs over the next ten years will double in percent of the g.d.p. so there's still a lot...
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jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the budget office and being the chief of staff for the president, the debt crisis has gotten much worse. i don't look at that reference and say, gee, this is a guy who is really going to fix the problem and i do think what we need in washington is he's been in washington in and out of government for 25 years and i guess my philosophy is, why not bring in some new faces, granted they are going to have the president's philosophy but maybe looking at new approaches to bringing this enormous debt down. >> steve, do you remember his record
jack lew understands budgets. the fact of the matter is, this is a guy that can speak the right language when the biggest crisis in washington right now is the fact that there's an absence of a budget. >> okay. so, ali, that's a great point. when i heard you talk about this before it was the one thing that you said that i kind of disagreed with. look, we have a fiscal crisis on our hands, we have a debt crisis. if you look at his performance in the last few years in terms of running the...
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host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is going to pay the debt back? host: ran on the independent line. caller: i am calling about timothy geithner exactly and the whole federal resolve -- reserve, for that matter. people are making like me of timothy geithner 0 in tax money. i do not make lightly of that. he came in a 0 in tax money knowing that he owed tax money. he was thinking he was above it anyway. that is one point. the second, our unemployment rate is sky-high under timothy geithner. the national debt is sky high under timothy geithner. third, we have lost our national credit rating, our world
host: jack lew coming in, and he was the president's point person. does that give you any confidence on budgets considering his background? caller: no, his background is just as bad. he practiced law for a few years, but he is basically a politician who used to work for tip o'neill. he does not care anything about economic growth. when the you hear any obama administration official talking about economic growth? that is what is needed, not more government programs that just run up debt. who is...
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i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt that they already had a fight on their hands. they didn't want to add any fuel to the fire on that, which is why they've held off of the nomination until this week. they do expect him to get confirmed and so do i. >> john kerry, secretary of state. we've got a lot of white males, shall we say, chuck hagel, we have pictures up there. jack lew, eric holder is over at the justice department. he's not a white male. he's an african-american. but no women. >> men. men. >> i want to put up another picture of the seen yr staff, if you will. there you you he sue the staff. there's been mur muring that there's not enough women part of this white house, the inner circle. what are folks saying about that? >> the visual you just showed with the four cabinet members being men, th
i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt that they already had a fight on their hands. they didn't want to add any fuel to the fire on that, which is why they've held off of the nomination until this week. they do expect him to get confirmed and so do i. >>...
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that is not going to be a good enough answer for jack lew. bill: we'll get sessions on the air starting next week. we'll see who else is on his side. stephen hayes, thank you. >> thanks, bill. bill: in washington with us today. martha, what's next? martha: what's next is this. we're waiting for new numbers. they're expected to come out in the next hour or so to the extent of this deadly spread of the flu outbreak and there are some new questions whether enough is being done to protect schools with all this. we'll tell you the length of some schools are going to now to disinfect. bill: more than washing your hand, huh? if you saw a pair of men walking through your neighborhood carrying assault rifles what would you do? two guys exercising their second amendment rights here. >> we were educating, letting people know they can come up and talk to us. we're very friendly, said hi to people. we let people know that guns are not bad things. ♪ [ male announcer ] some day, your life will flash before your eyes. make it worth watcng. introducing the
that is not going to be a good enough answer for jack lew. bill: we'll get sessions on the air starting next week. we'll see who else is on his side. stephen hayes, thank you. >> thanks, bill. bill: in washington with us today. martha, what's next? martha: what's next is this. we're waiting for new numbers. they're expected to come out in the next hour or so to the extent of this deadly spread of the flu outbreak and there are some new questions whether enough is being done to protect...
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it's hard to know where to begin. >> jack lew has a symbolic squiggly signature. if he cares about his legacy if he cares that people can read his handwriting, he'll adjust his handwriting and be more transparent. >> the white house won't say whether or not lew will work on his penmanship. they say it's easy to forge. not a comforting thought when you think about a treasury secretary. if you're thinking, well, my signature has issues of its own. nobody has asked me to be treasury secretary and definitely never will. >> thank you, major. what's interesting about this is why does he sign his name that way? >> i don't know, charlie. i was trying to figure out which is the j, which is the "a." you can't tell. do you think he'll change >>> we drink coffee in the >>> we drink coffee in the morning to help us wake up. did you know that coffee might also fight off depression? we'll show you how many cups you may need to stay happy next. >>> and tomorrow cbs news investigates an outbreak of legion nars disease y. would they imply that veterans families are to blame? that's
it's hard to know where to begin. >> jack lew has a symbolic squiggly signature. if he cares about his legacy if he cares that people can read his handwriting, he'll adjust his handwriting and be more transparent. >> the white house won't say whether or not lew will work on his penmanship. they say it's easy to forge. not a comforting thought when you think about a treasury secretary. if you're thinking, well, my signature has issues of its own. nobody has asked me to be treasury...
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speaking of jack lew, he may want to do something about his signature. right now it is a series of curly writing. his signature would be on every u.s. currency bill. tim geithner said he had to change his signature when he took the job just to make it legible. >>> we have new video this morning from the floor of the 2013 silicone valley and take a look at all the names in the auto industry. they are at the convention center in san jose. showing up on trucks, cross overs, i'll take one of each of those. at auto show starts at 10:00 and runs through -- at 10:00 this morning and runs through sunday. >> i'll take one for sal and one for me and you and steve. >>> if you want to get into your hot rod or whatever car you use, you need to give yourself some extra time in this commute. 680 southbound is going to be a little bit slow. there are no major problems if you are driving at the bay bridge toll plaza but seems a touch lighter than usual. and it's not all that bad on the bridge itself. traffic looks good, a little bit of wet roads and you might even encoun
speaking of jack lew, he may want to do something about his signature. right now it is a series of curly writing. his signature would be on every u.s. currency bill. tim geithner said he had to change his signature when he took the job just to make it legible. >>> we have new video this morning from the floor of the 2013 silicone valley and take a look at all the names in the auto industry. they are at the convention center in san jose. showing up on trucks, cross overs, i'll take one...
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president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin decline. first up, scott thompson, english teacher is accused of pulling the flag off the wall and stomping on it in front of students feoffment speech or is american culture in decline. bob, taking the flag off the wall, stomping on it in front of kids? >> bob: it's terrible. i think there are laws against defacing a flag. not sure that he is not in that territory. to do it in front of kids, i'm not sure what the point was. he said it's cloth. it's more than cloth. represents a lot of thing. >> kimberly: fire him. this is outrageous. i would be so angry i would literally pro
president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin...
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. >> reporter: but veterans of washington's budget battles say the rhetoric jack lew will face will be much nastier than the ultimate outcome. >> the debt ceiling is going to be an ugly fight, perhaps as ugly or even uglier than what we went through at the end of last year, but the real fight is not over the debt ceiling, the real fight is over deficit reduction and the debt ceiling is not a lever that will ultimately be pulled. being treasury secretary over the next couple of years is not going to be an easy job, tom. >> tom: what do we know about lew's background, darren, that could inform us how he may treat the negotiations over the debt ceiling? >> he has been described to me as a pragmatic progressive. he has been around for 25 years in washington, and he has been involved in almost all of the major budget battles. so he is widely respected. he really knows his stuff, and he is seen as a calm but fierce negotiator. >> tom: did he play any role back in august of 2011, the last time we had this debt ceiling de back debac. >> absolutely. there were some republicans who felt that lew
. >> reporter: but veterans of washington's budget battles say the rhetoric jack lew will face will be much nastier than the ultimate outcome. >> the debt ceiling is going to be an ugly fight, perhaps as ugly or even uglier than what we went through at the end of last year, but the real fight is not over the debt ceiling, the real fight is over deficit reduction and the debt ceiling is not a lever that will ultimately be pulled. being treasury secretary over the next couple of years...
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"way too early" starts right now. >>> there's jack lew's signature. we could have a pretty ugly signature on our dollar bill. >> i mean, is this even a signature? or did he start drawing charlie brown and give up after the hair? good grief. and it got no better when lew explained his fiscal philosophy saying, quote, i describe budgets as tapestry. when it's woven together, it completes our hopes and dreams of a nation. >> i tried. still doesn't even look good. good morning and welcome
"way too early" starts right now. >>> there's jack lew's signature. we could have a pretty ugly signature on our dollar bill. >> i mean, is this even a signature? or did he start drawing charlie brown and give up after the hair? good grief. and it got no better when lew explained his fiscal philosophy saying, quote, i describe budgets as tapestry. when it's woven together, it completes our hopes and dreams of a nation. >> i tried. still doesn't even look good....
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tell me the problem with jack lew. >> so much problems, so few time. the first thing is a lock of integrity. it isn't even so much that he worked for wall street. it's that he was in charge of o.m.d. for president clinton and was one of the important architects of financial deregulation. that's why he's not willing to admit that, because his fingerprints are all over what caused the crisis. >> cenk: so that's interesting. >> if you don't ever integrity you don't get anything. >> cenk: he's part of the guys who deregulate the banks. he goes to the banks gets paid millions of dollars at those banks that deregulation causes those banks to crash. becoming the director of the office of management and budget, then chief of staff now secretary treasury. it's almost as if they reward failure in washington. >> it's not almost. i said this about geithner, that he was selected precisely because he had a track record of consistent failure and louis a worthy successor. on every important financial issue, he has been as wrong as it is possible to be wrong he's cause
tell me the problem with jack lew. >> so much problems, so few time. the first thing is a lock of integrity. it isn't even so much that he worked for wall street. it's that he was in charge of o.m.d. for president clinton and was one of the important architects of financial deregulation. that's why he's not willing to admit that, because his fingerprints are all over what caused the crisis. >> cenk: so that's interesting. >> if you don't ever integrity you don't get anything....
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jack lew with replace geithner. he is currently the chief of staff. he previously served as budget director and was an executive at citigroup. >>> a crazy new signature will be on our money if the president gets his way of this is how jack lew signs his name. the white house says he has no plans to improve his penmanship so start checking the ones. >>> vice president joe biden will meet today with the national rifle association and executives from walmart one of the nation's biggest gun retailers. cbs reporter susan mcginnis says, this is part of a series of meetings this week in an effort to change gun control laws. >> reporter: customers outside washington, d.c. say they are keeping a close eye on gun cell talks taking place inside the beltway. >> i don't think restricting, you know, people's right to -- second amendment rights would be a solution here. >> reporter: cbs news has learned the white house is looking at several new laws including reinstating the assault weapons ban that expired in 2004, extending criminal and mental health background ch
jack lew with replace geithner. he is currently the chief of staff. he previously served as budget director and was an executive at citigroup. >>> a crazy new signature will be on our money if the president gets his way of this is how jack lew signs his name. the white house says he has no plans to improve his penmanship so start checking the ones. >>> vice president joe biden will meet today with the national rifle association and executives from walmart one of the nation's...
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we talked about jack lew. i can not. we have to go for this. take a look at the signature that will be on the new dollar bill, new treasury secretary's signature. do we have it? ashley: there it is. look at that. >> you know. ashley: oh, boy. >> she just said it all. the other thing i was going to say, alexander hamilton has to be rolling in his grave with that signature. ashley: look at that. lori: loop de loop. >> ever seen my hand writing? better than that what. ashley: charlie gasparino, as always thanks so much, charlie. high taxes are forcing high-tech company to hoard billions of dollars overseas, investments that could be used here in the u.s. liz macdonald is digging into the numbers and joins us ahead. lori: damage gets galore -- gadgets galore at the consumer electronics show in las vegas. liz is on it. >> shibani and i are going at. these are the first small electric vehicle motorized skates. they are wireless. 700 bucks. she is doing great. not going 10 miles-an-hour but not bad. gadget wars coming up. ashley: top electronic compan
we talked about jack lew. i can not. we have to go for this. take a look at the signature that will be on the new dollar bill, new treasury secretary's signature. do we have it? ashley: there it is. look at that. >> you know. ashley: oh, boy. >> she just said it all. the other thing i was going to say, alexander hamilton has to be rolling in his grave with that signature. ashley: look at that. lori: loop de loop. >> ever seen my hand writing? better than that what. ashley:...